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How much are you earning per annum?

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  #1991 (permalink)  
Old 11-10-2012, 01:21 PM
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Let me share something with you. I always had a car since uni, actually had in just before I ORD-ed. It was a Jap car. It was special driving to school back then when less than 5% of the school's population (my time) had a car. Felt really good and I had no shortage of attention. Being in NTU and having a car means that for those living in hostel, you are their "ticket" out for supper. No shortage of friends.

The car became my source of confidence. A self reassuring tool that made me feel that I was successful. When I graduated, I didn't earn much. Still, I mantained my car and bought season parking in CBD. It cost me $450 per month. But I felt good telling my colleagues I drove to work and sometimes I drive them out for lunch. Again, the car was my ticket to feeling good.

Then it escalates. I sold my JP car and bougth a continental car last year. Cost me almost S$200k. I used all my work savings and took a 7-yr car loan. My monthly expense drains me almost $2k+ (loan + petrol + season parking). I save $500-700 a month only.

In the eyes of alot of my colleagues and friends... I'm a high flyer. I'm doing well. I don't know how long this fascade can continue. I can't afford a house. I'm single, late 20s, living with my parents.

I've only my CPF and less than $10k savings. If I get married, it would be a 4RM hdb flat for me.

Living the SG dream... still.
what for ? living in 'haolian' looking rich on the surface, but bank little$$, y not you take taxi every day to work(best is by mrt/bus/walk), use the 200k to invest in dividend stock....at least got passion income of $1000/mth just from dividend......go google dividendwarrior.blogspot....

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  #1992 (permalink)  
Old 11-10-2012, 02:31 PM
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what for ? living in 'haolian' looking rich on the surface, but bank little$$, y not you take taxi every day to work(best is by mrt/bus/walk), use the 200k to invest in dividend stock....at least got passion income of $1000/mth just from dividend......go google dividendwarrior.blogspot....
There are many more such "haolian" youngsters these days. So for us prudent savers, it's easier for us to get ahead in the game.

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  #1993 (permalink)  
Old 11-10-2012, 04:10 PM
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Only the shallow people will think you are a high flyer. These are the same people who are easily conned into MLM and other get-rich schemes. All you need is to flash your beemer car key and they will fall into your trap.

It's already common sense that people who LOOK rich AREN'T usually rich -- you are precisely a case in point. The millionaires in the heartland are those aunties and uncles who look just like everybody else but live extremely comfortably with their condo rental income paid for by young punks from foreign lands.

They don't need a beemer to FEEL rich. They ARE rich (compared to image conscious young punks with only a few k in their bank accounts).
Extremely well said!

Well, I guess that is the SG dream.
Working the whole life paying off cars & housing loan

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  #1994 (permalink)  
Old 11-10-2012, 09:33 PM
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It is always better to live one level below your means.

I bought a terrace instead of condo so i dont have to owe the bank money, and drive a used bmw instead of a new one for a lower depreciation.
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  #1995 (permalink)  
Old 11-10-2012, 11:35 PM
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Default Polar opposite

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Originally Posted by Unregistered View Post
Let me share something with you. I always had a car since uni, actually had in just before I ORD-ed. It was a Jap car. It was special driving to school back then when less than 5% of the school's population (my time) had a car. Felt really good and I had no shortage of attention. Being in NTU and having a car means that for those living in hostel, you are their "ticket" out for supper. No shortage of friends.

The car became my source of confidence. A self reassuring tool that made me feel that I was successful. When I graduated, I didn't earn much. Still, I mantained my car and bought season parking in CBD. It cost me $450 per month. But I felt good telling my colleagues I drove to work and sometimes I drive them out for lunch. Again, the car was my ticket to feeling good.

Then it escalates. I sold my JP car and bougth a continental car last year. Cost me almost S$200k. I used all my work savings and took a 7-yr car loan. My monthly expense drains me almost $2k+ (loan + petrol + season parking). I save $500-700 a month only.

In the eyes of alot of my colleagues and friends... I'm a high flyer. I'm doing well. I don't know how long this fascade can continue. I can't afford a house. I'm single, late 20s, living with my parents.

I've only my CPF and less than $10k savings. If I get married, it would be a 4RM hdb flat for me.

Living the SG dream... still.
Interesting story, thanks for sharing. I'm the polar opposite who has the second property but only my family and very very close friends know it because I don't want to look as if I am showing off. And, what goes up may come down, I may be in ++ve equity today but 3 yrs later who knows what happens to property values? Then the nastier acquaintances or colleagues will start laughing and gloating.

But everybody knows I don't have a car.... Maybe this is considered acting average. Hahahaha....
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  #1996 (permalink)  
Old 12-10-2012, 08:47 AM
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you are overpaid. for a dip holder at early 20s, you are paid too much.
degree holders may not earn that much.
tbh, I'm in my late 20s, still a dip holder.
Working in the social circle over 4yrs since my NS days.

trying to know if there are better opp or salary elsewhere within other industry or am I lowly paid for a general system admin.

2.4k/mth + Bonus + 13month.

is there any IT or HR people here with frank opinions?
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  #1997 (permalink)  
Old 12-10-2012, 10:24 AM
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i think its reasonable sum. if you want a higher pay, go and make a list of necessary skills of the jobs that you are interested in, research on the pay range and work toward that goal. i find that looking at job ads is a good indicator of what skill set you have or are missing and this may help direct your career path.
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  #1998 (permalink)  
Old 12-10-2012, 10:55 AM
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Quote:
Originally Posted by Unregistered View Post
tbh, I'm in my late 20s, still a dip holder.
Working in the social circle over 4yrs since my NS days.

trying to know if there are better opp or salary elsewhere within other industry or am I lowly paid for a general system admin.

2.4k/mth + Bonus + 13month.

is there any IT or HR people here with frank opinions?
This is my third year of work after my NS. Diploma also. i am 25 yrs old this year
I am getting 2.7/mth + bonus + 13 month.
I wont say you lowly paid or what. Just move on in life. everything depend on luck. My fren that are taking part time degree with me some are earning 2.2k at age of 30 and some at age of 31 are earning 4k++ diploma. Think the traditional saying really matters. no matter how hard you work, there must be some senior management people spot you.

regards. Goh
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  #1999 (permalink)  
Old 12-10-2012, 11:32 AM
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This is my third year of work after my NS. Diploma also. i am 25 yrs old this year
I am getting 2.7/mth + bonus + 13 month.
I wont say you lowly paid or what. Just move on in life. everything depend on luck. My fren that are taking part time degree with me some are earning 2.2k at age of 30 and some at age of 31 are earning 4k++ diploma. Think the traditional saying really matters. no matter how hard you work, there must be some senior management people spot you.

regards. Goh
Thanks Goh & Ashley for sharing..

Very true.. Understanding my 'market value' not easy, especially when many workplaces are giving salary based on people's last drawn.

@Goh can I know what industry are u in?
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  #2000 (permalink)  
Old 13-10-2012, 10:02 AM
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I have just received an offer from SME...

Business Development Exec "aka Sales" (2 yr exp)
Honours Deg

Conditions: min. gross profit to bring in per annum is $600K (there are like 50 of us).

They offer me "up to" $35,000/annum + 14 days AL + basic insurance. No dental, no etc.

I find that even 2 yr exp job can demand this salary, how come for sales position they even dare to make this offer ??
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